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Sales taxes − including gross receipt taxes, retail sales taxes
and value added taxes − are a key part of the fiscal revenue of many
countries. Given an increasingly global economy − and the recent stresses to
which it's been subjected − many issues come into play in connection with the
legal, tax policy and economic implications presented by the taxation of
international transactions.
This thoughtful work begins with the basics and approaches sales taxation from
a number of different aspects. It provides in-depth economic analysis (for
non-economists) of all the taxes covered, including tax shifting, tax
incidence, the economic effect of reduced rates and exemptions, tax
accumulation, regressivity, and the Laffer curve approach. In addition, it
offers a tax policy approach in regard to specific economic sectors such as
the treatment of small enterprises, financial services, and real property.
This highly useful reference employs a comparative focus as well, especially
where US sales tax is contrasted to EU VAT (e.g., in regard of e-commerce and
the treatment of capital goods). Last but not least, the work offers
insightful legal analysis in such key areas as cross-border transactions and
US constitutional restraints.
Preface and Acknowledgments . List of Tables and Figures
List of Abbreviations. List of Cases
Chapter 1. General Introduction
Chapter 2. Short Overview of the History of General Sales Taxation
Chapter 3. Systems of Sales Taxation: General Overview
Chapter 4. Characterization of Consumption Taxes
Chapter 5. Gross Receipt Taxes
Chapter 6. Retail Sales Taxes
Chapter 7. Subtraction VAT
Chapter 8. Credit Invoice Method VAT
Chapter 9. Cross-Border Transactions
Chapter 10. Harmonization of Indirect Tax in Federal or Common Markets
Chapter 11. Revenue Allocation within Federal and Common Markets
Chapter 12. Tax Policy Lessons
Bibliography. Index